When you live full time in hotels (I don't have Appartment) , on your own money you choose the places and travel plans much more carefully than when you are working for a corporation (what I used to do and I didn't even was aware of the price of the room). And in 80% of the case I have the freedom to choose where I want to spend the following days or weeks, so I choose the destination accordingly.
This means that during the week I try to find the best option price / value (either spg / marriott / hilton / hyatt) and I choose based on this. I almost never stay in CY or Four Points but love some Aloft for exemple. During the week end of for holidays, I focus more on new experience and don't really care about the budget. During the week I mostly work remotely in the room... and little bit at the lounge... and little bit at the bar...and some meetings depending where I am. I almost never have a chance to use the facilities of the hotels. I don't need anything else than an upgrade, a smoking room if available, a good F&B and a bar for some evening drinks, nothing else. Week ends are different.
I spend more than 20K with SPG/MR because of this mix of moderate hotels price when possible / expensive cities where no other choice / expensive week ends / F&B and because I almost never redeem points for hotels (except same very sweet spots).
But you are right, we are all different, with different way of travelling, different budgets, different flexibility, needs, taste, etc etc etc. And one key point is who is the payer
If you have flexibility, freedom of choice and dates, status with most of the programs and like to change place (based on price but mostly because you like to change) this is how I can make a full time living in hotels a good life (or at least a life that I love).
For the points, us europeans we don't have the CC card game that you have in the US most of the points and miles we earn we got them from staying or flying, this brings a totally different vision of what is a lot of point or what is a cut.